Thanks a lot for this video, I have a bunch of old 401K I completely forgot about, just opened my first Roth IRA and realized I couldn’t transfer them over. I didn’t realize I could transfer them into a traditional IRA and then consolidate them into my Roth. Thank you!
@WealthyTiffanyКүн бұрын
Yea! You’re so welcome!
@armandoweckmann56998 күн бұрын
Awesomeness 👌 I also paid off my mortgage at age 39. It's been 4 years since I have had no regrets 😌 🙌. I am investing in the stock market. Once I accumulate enough gains in the marketplace, I'll cash in and buy more properties 🎉
@jeffkoons0018 күн бұрын
If you put all your money in a brokerage account and the market crashes wouldn'tt you lose all that money if you needed it to be liquid? I don't think it is is good advice to tell people to put all their on-hand cash in investments
@uf197815 күн бұрын
It's not difficult folks, invest half in s&p and the other half in a high yielding savings plan. That's what I do and get 4.7 in savings and whatever the s&p returns and I sleep quite good! See, simple!
@plum_colored_dahlia15 күн бұрын
My preferred general recommendations: 1. Save a min of 10% regularly until you have 3-12 mo worth of expenses. 2. Invest a min of 15% each payday / month. 3. When you have a fully funded emergency account add the 10% savings to the investing amount for a new min 25%. 4. Use the 75% or less for all other expenses and to save up for purchases. I like getting started with a general brokerage account for the versatility it provides. Of course also consider tax advantaged and retirement type brokerage options to, including 401k’s with company matches. Maybe a combination of account types will be right for you. If you are largely occupied paying off debts but want to begin the financial discipline of investing and inhabit the mindset of thinking of yourself as an investor you may elect to still invest something while paying down your debts; such as 1% or maybe 3-5% for investing.
@garhent19 күн бұрын
This is useless, we needed something to show us how to get the money out shareworks. It looks like they did some changes to make it just about impossible to pull it out now.
@corey699320 күн бұрын
I’m about to be in this situation and I have no idea what direction to take. I know a little about CD’s and have only heard of ROTH IRA’s and Trust. Financial education was just not something taught to me growing up bc nobody in my family ever had financial freedom or even know how to accumulate it 😔 I just want to make the right decisions for my future and my kids.
@WealthyTiffany19 күн бұрын
You’re headed in the right direction - wanting to do what’s best for you and your kids! I have plenty of videos on my channel about saving/investing, so keep learning! You got this!
@scottsmith734823 күн бұрын
I paid off my Mortgage in 11 years a few days ago. I made double payments in the last 6 years or so to accomplish it. My wife and I are debt-free. No car payments.. Credit cards get paid off every month.
@WealthyTiffany21 күн бұрын
Amazing!! Great work! 🤩
@TanishaHyman24 күн бұрын
exactly what i wanted to know. ill look at other videos
@WealthyTiffany21 күн бұрын
Glad it was helpful!
@TheFirstRealChewy26 күн бұрын
Keep in mind that state taxes still apply depending on your state.
@WealthyTiffany21 күн бұрын
Yes 👍 👍
@chrisr7268426 күн бұрын
Freedom
@WealthyTiffany21 күн бұрын
🎉🎉
@pawg206Ай бұрын
They always say invest but if you don’t know what to invest in, you should just get a saving account. Unless you’re going to tell me what to invest in to get that 7% which I doubt you would because it’s a gamble. Yeah a HYSA might have a slight lower gain but at least you know it’s going to be in the negative. This is just trying to keep up with inflation not to get rich.
@WealthyTiffany28 күн бұрын
Personally, I feel like people should learn what to invest in and how to invest (very different from gambling) - hence me creating this channel. From personal experience, I’ve created WAY MORE wealth than I ever could have by just keeping my money in a HY savings account. I have zero regrets investing my money. If I had regrets, it would be not learning how to invest even sooner and not investing more of my money. 🤷♀️
@alvekovius6512Ай бұрын
Warren Buffet says that most money managers with expenses underperform the market. He says that he knows some who do but very few. Money managers are good for those who are either too busy or too lazy to look at their own money. Some people find it scary and hard to understand. I think Investing in the indexes is always a good idea over the long haul.
@WealthyTiffany28 күн бұрын
I do like indexes - it keeps it simple for people.
@xrossupchris9094Ай бұрын
Freedom
@WealthyTiffany28 күн бұрын
🎉🎉
@lionelk.1739Ай бұрын
You didn't mention 🐕 pets.
@WealthyTiffany28 күн бұрын
Because there are no pets allowed 😂
@covertchannelАй бұрын
High Yield Savings accounts and CD ladders locked in at 4-5% are much better options than a traditional savings or checking earning 1%. Even a money market fund like SPAXX earns 4.97% currently with minimal risk.
@WealthyTiffany28 күн бұрын
Gotta love the HYSA!!
@jamieharmon7751Ай бұрын
Great content! Answered so many questions. Thank you for teaching this. It’s so important for people to understand. Generational wealth is something we all have access to. Thank you.
@WealthyTiffany28 күн бұрын
Thanks so much Jamie!! I think it’s very important too!!
@user-xy6if8lt4sАй бұрын
Hi Tiffany, I have a Traditional IRA with Vanguard. I was wondering could I transfer money from there into my TSP Roth IRA. Thank you for all your terrific content 👏
@AdrienBryantTubeАй бұрын
Got it Tiffany
@WealthyTiffanyАй бұрын
👍👍
@AdrienBryantTubeАй бұрын
Making Sense I have Capital One and Fidelity
@WealthyTiffanyАй бұрын
Awesome!!
@user-jk9se8xi5yАй бұрын
I went through cash app now they don't know nothing their just a 3rd party
@user-jk9se8xi5yАй бұрын
I sold my stocks with Caesars entertainment and don't how are where to get my money from that
@lotushealingsanctuaryАй бұрын
If taking RMDs w rollover IRA are there any potential pitfalls you can see in converting to a Roth?
@shyranjАй бұрын
I actually did put 20% down on FHA loan, and I'm still paying PMI.
@WealthyTiffanyАй бұрын
Darn it 🫤
@LolcocaАй бұрын
I have a lot of priorities : - Having MONEY - Doing my personal project - Vibing Alone and with Family (Sisters and Parents) - Studying 📖 - Being healthy - Laughing 🤣 - Eating good food - Hiking (Alone and with Sisters) - Traveling - Dancing 💃 - Singing 🎤 🎶 - doing Bike 🚲 The list are so long . . . 😂🤣
@WealthyTiffanyАй бұрын
So many things!! 😁😂
@guythecat490Ай бұрын
Its feeeeel. Not fil. J’sayin. ❤😂
@WealthyTiffanyАй бұрын
👍
@annadavis636123 күн бұрын
@@WealthyTiffanyWe understood what you were saying.
@mrw23Ай бұрын
It’s called fertilizer
@WealthyTiffanyАй бұрын
👍
@CalmerThanYouAre1Ай бұрын
You’re living a great life, Tiffany! Putting FI to its best use with all the time freedom and optionality to do the things you enjoy and find meaningful! 👏🏻
@WealthyTiffanyАй бұрын
Thanks Thomas!
@tinabensingerАй бұрын
Soil, not dirt.
@WealthyTiffanyАй бұрын
👍
@BoldTruth3Ай бұрын
I have missed seeing you here. You've helped me so much with getting my finances in order. Good to hear that you're doing good and getting a much needed break. I'm a stay at home mom who only works part-time, but my mom and wife duties only end when they're all asleep. 😅 I won't be getting a break anytime soon lol. It's ok, I love them. I'm looking forward to your new videos. Maybe you can share traveling tips, cooking tips or whatever it is that you would love to share! I wish you the best. God bless! 😊🤗
@WealthyTiffanyАй бұрын
That is so sweet of you! I am so happy to hear that. Mom and wife duties are definitely important ones! I hope you get some breaks here and there. 😉 Thank you for the suggestions! 😊
@user-pd4fp3dj3uАй бұрын
I am getting ready to retire and I want to take time off and visit all the baseball stadiums in Japan
@WealthyTiffanyАй бұрын
Congrats on being almost retired!! I hope the baseball stadiums are better than you imagine. 😉
@anthonyacosta7208Ай бұрын
You're back!!!!😊
@WealthyTiffanyАй бұрын
😊☺️
@FIRE_DrNinjaTurtleАй бұрын
I have started my KZfaq channel and I am on my third trip around the country
@WealthyTiffanyАй бұрын
That’s amazing!! Love it Darrell!
@WealthyTiffanyАй бұрын
Thanks for watching! 😘 Comment below, what are you spending your time on??👇👇
@Irene1208LanoАй бұрын
Looking into transferring funds from one firm to another for $70,000 Roth account. Problem is the administration fee of 2.5% or $1,700 is this customary???
@WealthyTiffanyАй бұрын
Not if you are self-managing, which is what the majority of my videos are about - how to do that.
@israel-r72 ай бұрын
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
@Caroline-r8z2 ай бұрын
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@israel-r72 ай бұрын
@@Caroline-r8z However, if you do not have access to a professional like JUDITH ANN PEACE, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments
@Caroline-r8z2 ай бұрын
@@israel-r7 Oh please I’d love that. Thanks!
@israel-r72 ай бұрын
@@Caroline-r8z Judith Ann peace is her name
@israel-r72 ай бұрын
Lookup with her name on the webpage.
@ericpanissidi67612 ай бұрын
Im getting sick in my stomach just thinking about roommates I could stand the constant change of different peopke.i was happiest when i lived alone.
@WealthyTiffanyАй бұрын
I guess it’s not for everyone 🤷♀️
@toddbenfield65462 ай бұрын
How about Annuity’s? 58 yrs old, and getting 5.5% in a MYGA annuity. No risk at my age✌️
@WealthyTiffanyАй бұрын
👍👍
@zestpeet46142 ай бұрын
Tiffany, quick question for you. I know youre a fan of single family homes. We currently have a paid for home and have been saving like crazy to purchase a rental property. We are now within sight of purchasing a rental. I was curious why you chose single family homes vs multi-family? Also, what type of single family homes did you seek--fixer uppers, more expensive properties? Just curious what your perspective is.
@WealthyTiffany2 ай бұрын
That’s amazing, great work! It was easier to find single family homes, I’m not opposed to multi-family. I looked for properties that were ready to rent, in nice locations. Not too expensive, but a safe place to live because I would be showing the home and I like all my properties near each other. I don’t do a lot of my own handyman work, so I prefer a property that I can get renters into right away. Hope that helps & I hope you find a great rental!
@zestpeet46142 ай бұрын
@@WealthyTiffany This does help a lot--I appreciate you!
@jpHarkins-kb2vv2 ай бұрын
Dont waste ur time on this nothing vedeo..she will get u in trouble. With the IRS.
@MS-es2lw2 ай бұрын
I think those rates and dollar ranges are relative to their taxable income, not what they can pull out.
@Gengingen2 ай бұрын
The aggregate interest is paid over a long while. Looking at this amount - obviously large - in one go is like living your entire life in one day. 😊 The “value” in the amount is about the luxury of time. It is like foregoing Starbucks coffee & saving that money & investing in Nvidia to become a millionaire at 12 😊 There are always tradeoffs that comes with mortgage payoff. If that money could be invested risk-free like nowadays at a higher-rate than mortgage-rate, locking that money into a mortgage is not wise. 😊
@WealthyTiffany2 ай бұрын
There are definitely tradeoffs and they aren’t just about the numbers. 🙂
@Realtystewards2 ай бұрын
Great video, thanks for posting.
@WealthyTiffany2 ай бұрын
You’re welcome!
@Saaaa23242 ай бұрын
Paid off one mortgage (on a revenue property) before age 33. Three mortgages to go; total remaining debt is <$115,000!
@WealthyTiffany2 ай бұрын
Amazing work Sarah! You got this!!
@annadavis636123 күн бұрын
Right there with you,paying off rental property Sept 17,2024 one more to go only owe $149,000, and it’s worth $420,000
@Saaaa232418 күн бұрын
@@annadavis6361 awesome!!
@appleztooranges2 ай бұрын
I was always told by my parents to save save save. A t 36 years old I’m reconsidering. I’m starting to invest besides my 457b into a Roth IRA. Considering on doing a brokerage account later down the line as well
@WealthyTiffany2 ай бұрын
That’s great you’re starting to invest!!
@katsadventures70272 ай бұрын
Thank you very much, Tiffany❤
@WealthyTiffany2 ай бұрын
You’re welcome 😊
@dlewis4832 ай бұрын
Working with an advisor and looking to switch to a FP instead. After all the fees my returns are less than my index funds and his fees keep growing
@WealthyTiffany2 ай бұрын
I believe it!
@fredmorgan9962 ай бұрын
Interesting you didn't mention as a Financial Coach how much you charge
@WealthyTiffany2 ай бұрын
This video will be up for years. If people are interested, they can go to my website. :)